Hi Binny, I think the solutions that are assuming for the two scenarios are mismatched. Based on my understanding on reverse and redo, closed-reschedule feature present in Mifos, I think the solutions needs to be interchanged.
Reverse and Redo : Whenever you reverse a loan and try to redo it. On redo screen, it asks you to associate the loan with the corresponding reversed one case. Then after entering the reversed loan details, it asks for the disbursement date. Ideally you should fill the same disbursement date of reversed loan( when your loan is already partially paid), then all the installments based on the selected product are generated. At that time, you are allowed to enter the repayment amount against the installments manually. You can adjust the amounts based on the amount previously paid for reversed loan and then go ahead with creating this account. Rescheduled: This is simply one more option to close an account in its midway but you won't find any kind of linking when you create another loan. So, new loan will be a kind of fresh loan entry in Mifos. I hope you got my point. So, I think your scenarios 1 and 2 should match with 2 and 1 solutions respectively if you are planning to do in that way. Thanks, Ramya From: Binny Gopinath [mailto:binny.gopin...@gmail.com] Sent: Saturday, August 20, 2011 9:03 AM To: A good place to start for users or folks new to Mifos. Subject: [Mifos-users] Changing interest mid-way during the loan tenure Hi all, One of my clients want to change their interest rate (from 15.46% flat, to 13.04 flat). This is a change across the organization for one of their loan product and needs to be applied to all active loans also. I have 2 questions: a) Old installments remain unchanged and new installments will have the revised interest rate, (i.e. for 10,000 loan, old installments have the interest as 30 and any future installments will have interest as 26): Can Mifos handle such a scenario? My guess is it cannot. Have any of you faced this issue and if yes, is there a workaround? - The only thing I can think of is to one-by-one close all existing loans with "closed-rescheduled" status. Make a note of the principal outstanding before closing and to create new loans based on this amount. This will be very painful for the MFI staff and also may show a very skewed data in their reports. b) If old installments also are to change with the new interest rate, then we could use "reverse loan disbursal" and "redo loan disbursal" features. Is that correct? Is there a way to do this in bulk, rather than one loan at a time? -- Thanks and Regards Binny Gopinath Sreevas
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